Where to Buy Cryptocurrency? | How and When to Buy or Sell
Table of Content
- All about Buying Cryptocurrency
- Where to Buy Cryptocurrency?
Cryptocurrency is digital or virtual money, designed to make transactions across the globe, without having any physical counterparts. Each of the crypto-coin ownerships is recorded in a public ledger, known as the blockchain, which can be openly viewed.
The advent of cryptocurrencies has led to a barrier-free society for buying and selling goods and services throughout the globe, without any government intervention.
These virtual currencies have gained popularity and credibility, with time. This is the reason why the cryptocurrency markets are thriving today.
Let’s take a look at buying cryptocurrencies.
All about Buying Cryptocurrency
When it comes to buying cryptocurrencies, the best possible way is to do it on a centralized exchange using debit cards. For this, Coinbase is one such platform that provides an interface to buy crypto with Fiat (the paper currency like Dollar, Euro, etc.).
While trading, it is equally important to know whether it is safe to buy cryptocurrency or not?
Well, the answer to it is Yes! It is definitely safe to purchase these digital coins, provided you did thorough research before investing in any currency such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc.
To buy cryptocurrency, you actually need 4 steps to perform:
- Arrange Cryptocurrency Wallet to store your currency.
- Connect your wallet to your, Bank Account, Debit Card, or Credit Card.
- Join a Cryptocurrency Exchange based on your preferences, choices, or intent.
- Place your order of the digital currency you intend to buy.
Now that you have known about buying cryptocurrency, Let’s move on to another very important topic in this regard.
Where to Buy Cryptocurrency?
One of the critical functions of the ecosystem of cryptocurrency is its exchange platform, where all these currency transactions are done.
The exchange platform act as a point of connection between the fiat (physical currency) world and the crypto world.
So basically, there are two types of exchanges, that are available:
- One is Fiat to Crypto type of exchange platform.
- And the other is Crypto to Crypto type of exchange platform.
Fiat to Crypto is the exchange platform that helps you exchange cryptocurrency for Fiat Money.
- Coinbase: One perfect example of such an exchange is Coinbase. This also helps traders to buy other cryptocurrencies like Ethereum (ETH), Bitcoin (BTC), etc. in UK and other countries in exchange for Fiat currencies. Coinbase is one of the best currency to buy right now.
- Binance: The next exchange, which is Crypto to Crypto is a platform where you can only exchange cryptocurrency to cryptocurrency. Binance can be the best example of Crypto to Crypto exchange.
There are several other exchanges where you can buy cryptocurrencies. Some of them include:
- Square Cash: This exchange is well known for its versatility. You do not hold cryptocurrencies outside your square wallet, unlike some other digital wallets. The currencies are held in your account to sell or withdraw on your behalf. Although it limits purchases to $10,000 per week, Square Cash does not have any limit to sell.
- Robinhood: This exchange platform is known for its low-cost availability. You can buy or sell currency for free here. But the only drawback that it holds is that Robinhood does not work in every state.
- Coinbase Pro: If you are an active trader and interested in big spending, Coinbase Pro is an excellent exchange platform for you. Your funds here are safe and free from theft.
For more questions on Cryptocurrency, you can browse our cryptocurrency questions and feel free to post a question if you wish to know an answer. Our community members will guide you.
Frequently Asked Questions
Cryptocurrencies can be bought from several exchange platforms, depending upon the type of the exchanges you are looking for.
Ethereum can be bought through exchange platforms like Coinbase or Binance, either by Fiat to Crypto exchange or Crypto to Crypto exchange.
Well, to buy or sell cryptocurency depends on your budget and intent for which you are looking to buy. The most popular crypto coin today is Bitcoin.
According to researchers, the best time to trade in digital coins is a week after that currency encountered an increase and sell them in other cryptos.